XAI-FinCrime

Funding: Innosuisse (ITEA4) · September 2025 – August 2028

The project aims to transform financial crime prevention by leveraging machine learning, generative AI, and explainable AI (XAI) to enhance fraud detection and compliance management. It uses ML models for transactional behavior analysis and multimodal LLMs for unstructured data processing, with counterfactual explainers to improve AI decision transparency.

The project is part of the ITEA4 umbrella project “ResilientEnterprise: Improving Resilience of Enterprise Workforce and AI to Operational Challenges” (23046)

Objectives

• Significantly reduce the typical False Positive rate of 95% found in current rule-based industry standards
• Improve F1-scores, accuracy, and True Positive rates compared to existing solutions
• Enhance user understanding of AI systems to reduce investigation effort per alert
• Validate innovations through pilot studies with financial institutions

Team Members

• Lidia Losavio
• Francesco Sovrano
• Marc Langheinrich

Implementation Partner

• Deloitte Switzerland

ITEA4 Partners

• ABB, Finland
• Granlund Oy, Finland
• Helvar Oy Ab, Finland
• Linovt - Engenharia de Software, Portugal
• Polytechnic Institute of Porto, Portugal
• Swift Robotics, UK
• The Open University, UK
• University of Oulu, Finland
• VTT Technical Research Centre of Finland Ltd., Finland